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IO Interactive Shuts Istanbul Studio After Xbox Funding Pullout

7/8/2026

27 6 Full Breakdown

Summary

Story summary

IO Interactive closes its Istanbul studio after Xbox withdrew funding for Project Fantasy.
The split gave IO Interactive full ownership of the online RPG Project Fantasy.
IO pledged to fund and develop Project Fantasy independently for a solid foundation.
The company said its immediate focus is supporting affected Istanbul staff during the transition.
The Istanbul studio opened in 2023 in Sariyer to establish a foothold for AAA development.

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Story summary

IO Interactive closes its Istanbul studio after Xbox withdrew funding for Project Fantasy.
The split gave IO Interactive full ownership of the online RPG Project Fantasy.
IO pledged to fund and develop Project Fantasy independently for a solid foundation.
The company said its immediate focus is supporting affected Istanbul staff during the transition.
The Istanbul studio opened in 2023 in Sariyer to establish a foothold for AAA development.